Chicago, Dec. 09, 2022 (GLOBE NEWSWIRE) -- District Heating Market by Heat Source (Coal, Natural Gas, Renewables, Oil & Petroleum Products), Component (Boiler, Heat Exchanger), Plant Type (Boiler Plants, CHP), Application (Residential, Commercial, Industrial) and Region - Global Forecast to 2027", The rise in demand for district heating is also attributed to the increasing use of renewable energy integration in district heating.
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Scope of the Report
|Market Size Value in 2022
|USD 167.8 Billion by 2027
|Revenue Forecast in 2027
|USD 226.5 Billion
|Market Size Availability for Years
|Geographic Regions Covered
|North America, Asia Pacific, Europe, and RoW
|By heat source, plant type, application, and region
“Browse in-depth TOC on "District Heating Industry"
175 – Tables
45 – Figures
210 – Pages
Fortum is one of the clean energy companies based in Europe, operating in more than 40 nations. The company provides electricity, gas, heating, and cooling accompanied by smart solutions to enhance the resource efficiency of its customers. It primarily serves Nordic and Baltic countries, Russia, Poland, and India. Fortum is the biggest electricity retailer and also ranks among the top heat producers globally. The company operates through five business divisions: Generation, Russia, City Solutions, Consumer Solutions, and Uniper. Fortum concluded the sale of its ~50% ownership in the Swedish district heating and cooling company Stockholm Exergi and the district heating business in the Baltics.
Vattenfall is among the largest producers and retailers of electricity and heat in Europe. The company provides electricity to industries and supplies energy to homes, helping modernize the way of living through innovation and cooperation. The company provides district heating to residential as well as commercial consumers, for which the company procures heat from embedded electricity sources and open district heating sources, including industries and waste energy sources. The embedded heat sources include wind power, biomass, hydropower, solar energy, natural gas, nuclear power, coal, and oil.
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- In March 2022, Fortum and Microsoft announced a novel partnership in which Fortum will collect the surplus heat produced by a new data centre to be constructed by Microsoft in the Finnish capital of Helsinki. The data centres will run entirely on emission-free electricity, and Fortum will use the server cooling process to transfer clean heat to nearby homes, businesses, and other buildings connected to its district heating system. The data centre will have the largest waste heat recycling concept in the entire world.
- In March 2022, Ameresco, Inc., a leading cleantech integrator specializing in energy efficiency and renewable energy, announced that it had been chosen as a partner in the Bristol City Leap project, a 20-year concession to decarbonize the city. Ameresco, in collaboration with Vattenfall Heat UK, will work through a unique public-private partnership structure to provide services such as energy efficiency upgrades, wind and solar services, project financing, long-term operation and maintenance, and more. The Bristol City Leap project will run for 20 years, aiming for net zero goals through a series of energy and infrastructure investment opportunities that will attract approximately £1 billion in inward investment.
What are the drivers and opportunities for the district heating market?
Factors such as increasing demand for energy-efficient and cost-effective heating systems and growing urbanization and industrialization are among the driving factors of the district heating market. Moreover, initiatives related to clean energy production and stringent legislative regulations to reduce greenhouse gas emissions is expected to offer lucrative opportunities for the district heating market.
The Electric Heat Tracing Market is projected to grow from USD 2.5 Billion in 2022 to USD 3.8 Billion in 2027; it is expected to grow at a CAGR of 8.3% from 2022 to 2027
The Heat Interface Unit Market is expected to witness high growth during the forecast period. The overall market is expected to grow from USD 342.3 Million in 2016 to USD 591.3 Million by 2023, at a CAGR of 7.9% between 2017 and 2023.